Printed from http://www.electronista.com

Lawyer: uncaught Goldman Sachs exec leaked Apple, Intel info

updated 10:25 pm EDT, Fri March 16, 2012

Goldman Sachs slipped Apple and Intel info

A pre-trial hearing Friday over insider trading has leaked word that at least one Goldman Sachs member is known to have been leaking information about Apple and Intel. A wiretap of an as yet unnamed person at the company overheard "substantial evidence" of someone other than the accused Rajat Gupta who was guilty of leaking insider info, the latter's attorney Gary Naftalis said. He argued that it was this unnamed person who should be on trial and not Gupta.

The details emerged as part of a debate between Naftalis and prosecuting attorney Reed Brodsky, who disputed that Gupta had been the fall man for someone else.

Gupta, and possibly the unnamed person, were alleged to have fed information to Galleon Group hedge fund creator Raj Rajaratnam during 2007 and 2009, leading to Rajaratnam's imprisonment in 2011. Reuters also understood that an active director, David Loeb, was also being investigated. He currently works with hedge fund staff, including current investigation target Henry King.

Such inside deals have been subject to a wide-ranging government crackdown that has seen numerous other arrests and convictions. In many cases, corporate insiders have been slipping out product or fiscal details before they were made public, giving an unfair advantage for investments.



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

  1. iphonerulez

    Fresh-Faced Recruit

    Joined: Nov 2008

    +9

    These people are nothing

    but criminals and should be behind bars. Wall Street is made up of crooked firms and that's one reason why you'll never see plenty of good companies get fair valuations.

  1. aardman

    Fresh-Faced Recruit

    Joined: Nov 2009

    +1

    I am shocked, shocked!

    ... that a Goldman Sachs employee would be involved is such nefarious activity.

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

Life n Soul 8 Driver Bluetooth headphones

When it comes to music on the go, consumers generally have some options to consider when looking for the best experience. While Blueto ...

Tesoro Tizona G2N Elite gaming keyboard

The market for gaming keyboards is getting crowded, starting off with some fairly simple keyboards and diverging into the land of modu ...

GX Gaming DeathTaker mouse

Gaming is a serious endeavor for many people, driving them to look for the best performance in their system and interface devices. Fro ...

Sponsor

toggle

Most Commented

 
toggle

Popular News